AND Solutions has announced a software agreement with PT AEON Credit Service Indonesia to provide AI-based custom credit scoring.
This collaboration is set to automate the credit screening operations of PT AEON Credit Service Indonesia, a subsidiary of AEON Financial Service. By leveraging AI and machine learning (ML) technology, the software aims to improve the average screening time and enhance customer experience in consumer credit services. This agreement reinforces AND Solutions as a software provider for financial institutions across Southeast Asia.
And Solutions' platform uses AI and ML to create tailored credit scoring models for financial institutions, factoring in customer data such as credit history, income sources, and alternative data. This integration is intended to enhance loan assessment processes and operational efficiency at PT AEON Credit Service Indonesia.
Indonesia faces significant challenges in the financial sector, including a large underbanked population. According to the World Economic Forum, nearly half of all adults in the country are unbanked or underbanked. Nonetheless, the digital loan market is expected to reach USD $40 billion by 2025, as highlighted by the e-Conomy Southeast Asia report by Google, Temasek, and Bain & Company.
AND Solutions' partnership with PT AEON Credit Service Indonesia follows a previous collaboration with AEON Thana Sinsap in Thailand. This reflects the ongoing expansion and adoption of AND Solutions' credit scoring software within the financial services sector in the region.
Mr. Yasunori Narabayashi, President Director of PT AEON Credit Service Indonesia, expressed confidence in the collaboration, stating, "We are confident that AND Solutions' AI-powered credit scoring software will enable us to offer a frictionless experience to our customers in Indonesia. Their expertise, speed, and flexibility are essential for us to modernise our operations and increase efficiency."
Khos-Erdene Baatarkhuu, CEO of AND Global, commented on the agreement, saying, "We are delighted to be offering our AI-based custom credit scoring to PT AEON Credit Service Indonesia. Streamlining the loan assessment process is an essential step to enhancing customer experience by reducing screening times and automating operations. The trust placed in us by PT AEON Credit Service Indonesia strengthens our commitment to supporting their mission of delivering accessible and inclusive financial services to Indonesians, enhancing their quality of life, and addressing their long-term financial needs through our technology."
